Tuvalu
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- false, Rank false of 96
- false, Rank false of 140
2021 Product Exports | Imports: $129M | $128M, 191 of 226 | 209 of 226
2021 Per Capita Product Exports | Imports: $10.8k | $10.8k, 33 of 219 | 60 of 219
Overview In 2021 Tuvalu was the number 191 economy in the world in terms of total exports and the number 209 in total imports.
Exports The top exports of Tuvalu are Tug Boats ($108M), Non-fillet Frozen Fish ($19.3M), Nitrile Compounds ($157k), Integrated Circuits ($111k), and Electrical Power Accessories ($86.6k), exporting mostly to Thailand ($117M), Nigeria ($5.96M), Philippines ($3.63M), South Korea ($947k), and Ecuador ($288k).
Imports The top imports of Tuvalu are Passenger and Cargo Ships ($51M), Fishing Ships ($21.6M), Refined Petroleum ($13.3M), Other Sea Vessels ($3.13M), and Tug Boats ($2.87M), importing mostly from China ($46.4M), Japan ($41.9M), Fiji ($17.1M), South Korea ($11.5M), and New Zealand ($5.45M).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Tuvalu.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Import (2021): Passenger and Cargo Ships, $51M
Top Origin (2021): China, $46.4M
In 2021, Tuvalu imported $128M, making it the number 209 trade destination in the world. During the last five reported years the imports of Tuvalu changed by $89.3M from $39.2M in 2016 to $128M in 2021.
The most recent imports of Tuvalu are led by Passenger and Cargo Ships ($51M), Fishing Ships ($21.6M), Refined Petroleum ($13.3M), Other Sea Vessels ($3.13M), and Tug Boats ($2.87M). The most common import partners for Tuvalu are China ($46.4M), Japan ($41.9M), Fiji ($17.1M), South Korea ($11.5M), and New Zealand ($5.45M).
Market Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionTuvalu Exports Services (2008): $5.58M
Tuvalu Imports Services (2008): $18.9M
In 2008, Tuvalu exported $5.58M worth of services. The top services exported by Tuvalu in 2008 were Compensation of employees ($3.16M), Travel ($1.5M), Other business services ($301k), Transportation ($290k), and Communications services ($163k).
The top services imported by Tuvalu in 2008 were Transportation ($7M), Travel ($4.98M), Other business services ($3.02M), Personal, cultural, and recreational services ($1.8M), and Services not allocated ($1.47M).
Economic Complexity
#permalink to sectionOverview
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTuvalu has a high level of specialization in Tug Boats (4.83k), Non-fillet Frozen Fish (126), Coin (14.4), Vinegar (9.61), and Collector's Items (5.57). Specialization is measured using RCA, an index that takes the ratio between Tuvalu observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Tuvalu according to the product complexity index (PCI) are Nitrile-function compounds (1.05), Vinegar and substitutes for vinegar obtained from acetic acid (0.29), Coin (0.23), Containers for compressed or liquefied gas, of iron or steel (0.044), and Boats, floating structures, other (for e.g. rafts, tanks, coffer-dams, landing stages, buoys and beacons) (-0.37). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Tuvalu according to the relatedness index, were Cocoa Beans (0.014), Refined Petroleum (0.014), Crustaceans (0.014), Coconuts, Brazil Nuts, and Cashews (0.013), and Recreational Boats (0.013). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Tuvalu is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
